Impact of Entrepreneurial Education on Startup Success Rates in Kenya
DOI:
https://doi.org/10.47672/ije.2104Keywords:
Entrepreneur, Education, Startup, Success RatesAbstract
Purpose: The aim of the study was to assess the impact of entrepreneurial education on startup success rates in Kenya.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: The study found a positive correlation between entrepreneurial education and startup success rates. Entrepreneurs who undergo formal or informal education in areas such as business management, finance, marketing, and leadership tend to have a better understanding of industry dynamics, market trends, and strategic planning. This knowledge equips them with the skills needed to navigate challenges, make informed decisions, and seize opportunities effectively. Entrepreneurial education also fosters networking opportunities, allowing entrepreneurs to connect with mentors, investors, and other stakeholders who can provide guidance, resources, and support. These networks often play a crucial role in the growth and sustainability of startups, helping them access funding, build partnerships, and gain market visibility. Furthermore, entrepreneurial education cultivates an entrepreneurial mindset characterized by innovation, resilience, and adaptability. This mindset encourages entrepreneurs to think creatively, experiment with new ideas, learn from failures, and pivot when necessary. Such attributes are instrumental in overcoming obstacles, staying competitive, and achieving long-term success in the dynamic and competitive startup ecosystem.
Implications to Theory, Practice and Policy: Human capital theory, social learning theory and resource-based view may be used to anchor future studies on assessing the impact of entrepreneurial education on startup success rates in Kenya. In practice, it is crucial to design and implement entrepreneurship education programs that prioritize experiential learning, real-world problem-solving, and practical skill development. From a policy perspective, advocating for frameworks that support the integration of entrepreneurial education into formal education systems is paramount.
Downloads
References
Awuah, S., Amankwah-Amoah, J., & Opoku Mensah, S. (2020). Entrepreneurship in Ghana: Success factors and challenges. Journal of African Business, 21(4), 485-504. https://doi.org/10.1080/15228916.2020.1779341
Bae, T. J., Qian, S., Miao, C., & Fiet, J. O. (2019). The role of social learning and knowledge acquisition on opportunity recognition in entrepreneurship. Academy of Management Proceedings, 2019(1), 15967. https://doi.org/10.5465/ambpp.2019.15967abstract
Bone, J., Allen, O., & Haley, C. (2019). Business incubation and acceleration in the UK: Review of evidence. Entrepreneurship Theory and Practice, 43(1), 134-155. https://doi.org/10.1177/1042258717743784
Carree, M., Van Stel, A., Thurik, R., & Wennekers, S. (2018). The relationship between economic development and business ownership revisited. Entrepreneurship Theory and Practice, 42(3), 421-440. https://doi.org/10.1177/1042258717739689
Chikwekwe, D., & Lungu, J. (2020). Challenges and opportunities for startups in Zambia. Journal of Innovation and Entrepreneurship, 9(1), 1-17. https://doi.org/10.1186/s13731-020-0121-z
Chitsike, R., & Dongo, A. (2021). Startup challenges in Zimbabwe: A qualitative analysis. Journal of Innovation and Entrepreneurship, 10(1), 1-15. https://doi.org/10.1186/s13731-021-00171-y
Fauzi, A. A., & Sheng, M. L. (2021). The role of government support in enhancing SMEs performance in Indonesia. International Journal of Entrepreneurship and Small Business, 44(1), 89-107. https://doi.org/10.1504/IJESB.2021.10037967
Gielnik, M. M., Spitzmuller, M., Schmitt, A., Klemann, D. K., & Frese, M. (2018). "I put in effort, therefore I am passionate": Investigating the path from effort to passion in entrepreneurship. Journal of Applied Psychology, 103(4), 436-450. https://doi.org/10.1037/apl0000270
González-Pérez, M. A., Velez-Ocampo, J., & Duque-Grisales, E. (2019). Entrepreneurial ecosystems in Latin America: A comparative analysis of Mexico, Colombia, and Brazil. International Journal of Emerging Markets, 14(2), 274-292. https://doi.org/10.1108/IJOEM-06-2017-0208
Grichnik, D., & Brinckmann, J. (2019). Educating entrepreneurs: A multi-level review and research agenda. Journal of Business Venturing, 34(4), 1-26. https://doi.org/10.1016/j.jbusvent.2019.105916
Kasozi, A. B., & Nalukenge, I. (2019). The role of innovation in Ugandan startups: A qualitative study. Journal of Entrepreneurship in Emerging Economies, 11(3), 486-504. https://doi.org/10.1108/JEEE-03-2019-0033
Kerr, W., & Nanda, R. (2019). Financing innovation. Annual Review of Financial Economics, 11, 275-298. https://doi.org/10.1146/annurev-financial-110418-032537
Liu, C., Ren, S., Liao, J., & Song, H. (2020). Resource acquisition, entrepreneurial education, and entrepreneurial performance: The moderating effect of environmental dynamism. Journal of Small Business Management, 58(3), 675-698. https://doi.org/10.1080/00472778.2019.1656701
Martínez-Moreno, E., Fuentes-Fuentes, M. M., & Laplume, A. O. (2021). How entrepreneurship education impacts entrepreneurial intentions: A multidimensional approach. International Entrepreneurship and Management Journal, 17(2), 507-534. https://doi.org/10.1007/s11365-020-00689-5
Mwakyusa, B. E., & Komba, A. (2018). Startup challenges in Tanzania: Insights from entrepreneurs. Journal of Innovation and Entrepreneurship, 7(1), 1-18. https://doi.org/10.1186/s13731-018-0093-y
Nguyen, H. T. (2020). Entrepreneurship development in Vietnam: Opportunities and challenges. Journal of Small Business and Enterprise Development, 27(3), 371-387. https://doi.org/10.1108/JSBED-11-2019-0366
Nwankwo, S. (2018). Entrepreneurship development in Nigeria: A review. Journal of Business Research, 94, 400-410. https://doi.org/10.1016/j.jbusres.2018.05.029
Rao, N. (2020). Startups and the Indian economy: Challenges and opportunities. International Journal of Innovation and Technology Management, 17(2), 2050012. https://doi.org/10.1142/S0219877020500129
Rauch, A., & Hulsink, W. (2020). Entrepreneurship and innovation policies: Are they valued by entrepreneurship educators and trainers? Entrepreneurship Education and Pedagogy, 3(3), 363-379. https://doi.org/10.1177/2515127419868007
Shepherd, D. A., & Williams, T. A. (2018). Educating entrepreneurship students about emotion and learning from failure. Academy of Management Learning & Education, 17(3), 346-353. https://doi.org/10.5465/amle.2016.0271
Van Scheers, L. (2018). Marketing challenges that South African SMEs experience. International Business & Economics Research Journal (IBER), 17(2), 31-43. https://doi.org/10.19030/iber.v17i2.10136
Wang, X., & Chugh, H. (2020). The impact of formal entrepreneurial education on entrepreneurial intention: An institutional perspective. Journal of Small Business Management, 58(3), 445-466. https://doi.org/10.1080/00472778.2020.1712764
Wondwossen, B. G., Arega, F. M., & Muluken, E. S. (2021). Entrepreneurship ecosystem in Ethiopia: A review. Journal of Innovation and Entrepreneurship, 10(1), 1-23. https://doi.org/10.1186/s13731-021-00144-1
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Bonface Kimani
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
